Share Grants. (i) Subject to the provisions of Section 2(b)(ii), at the end of each calendar quarter during the Term, the Company shall issue and deliver to Executive, on the last business day of such calendar quarter, a number of shares of common stock, par value $0.0001 per share, of the Company (the “Common Stock”) having a fair market value of $3,000 as of such date (the “Shares”) and the number of Shares to be issued will be calculated by dividing $3,000 by the VWAP (as defined below) as of the last day of the preceding calendar quarter. The compensation payable to Executive pursuant to this Section 2(b)(i) for any partial calendar quarter shall be pro-rated.
Appears in 4 contracts
Samples: Employment Agreement (Hour Loop, Inc), Employment Agreement (Hour Loop, Inc), Employment Agreement (Hour Loop, Inc)
